Our Survey Says…

Jul 20, 2012

We recently polled over 1000 of our selling clients on a range of moving subjects.

Here are the results.

When asked what the most stressful aspect of moving home is, the majority (55.1%) of respondents say that it’s finding a suitable property to buy that gives them the most angst. Obtaining a mortgage was next stressful but at only 17.3% and choosing from the plethora of estate agents available to sellers proved slightly less contentious for some, at 13.3%.

Of course, we asked a cheeky, self-indulgent question on estate agency fees. What is the most acceptable fee level to pay, we wondered?

Funnily enough, not a single respondent said that 2% or even 1.5% was acceptable. 32% of people think that between £500 and £1000 is ok. But 69% say that they wouldn’t pay more than £500. (Phew, that’s a relief…)

Does it take too long for property transactions to complete? And if so, should the Government intervene in order to speed things up? Tellingly, 88% say YES with only 8% thinking that there should not be any intervention in what is a slow, painful and uncertain legal process. Arguably the most antiquated system in the world.

Estate agency licensing. That was a hot one too with 80% of those concerned wishing that the industry was better regulated.

We agree!

It’s great to have an insight into what people themselves think about the property industry and the moving process.

It’s clear from our results above that the public want lower estate agency fees and a more up to date approach to conveyancing and the regulation of estate agents.

We have always campaigned for all three of these and are putting OUR money where our mouth is by adopting the best value estate agency fee in the UK. We only hope that Government follows up on the other two important aspects.